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JLL Secures $112M in Non-Recourse Financing for Office Complex in Suburban DC
With the assistance of Jones Lang LaSalle’s Capital Markets division, the California State Teachers Retirement System has landed $112 million in financing for Lincoln Place, a 503,800-square-foot office complex in Arlington, Va.
HFF Secures $581M Refi for 16-Property Blackstone Hotel Portfolio
The Blackstone Group has refinanced a 16-property, 4,798-room hotel portfolio and golf course/tennis club with a $581 million loan obtained from GE Capital Real Estate.
MAA, Colonial Properties Trust to Become One in $8.6B Merger
MAA and Colonial Properties Trust have made a multibillion-dollar pact that will change the rankings in the apartment REIT arena.
ARCP Shows Hearty Appetite with $807M Deal for Restaurant-Heavy Portfolio
Barely days after announcing its intended $2.2 billion acquisition of CapLease Inc., American Realty Capital Properties, has jumped ahead of its own forecasts by agreeing to purchase from GE Capital an $807 million portfolio of 471 net-lease properties.
CDT Buys Ocean Towers in Coney Island, Area Hit Hard by Sandy
Community Development Trust and Proto Property Services have teamed up on a $52 million project to buy and rehabilitate a 19-story, 380,000-square-foot apartment building in Coney Island, an area in Brooklyn hit hard by Hurricane Sandy.
CBRE Fund Buys $144M Trophy Office in Atlanta Suburb
CBRE Strategic Partners U.S. Value 6, a fund sponsored by CBRE Global Investors, has purchased Three Ravinia, a 31-story, 813,750-square-foot trophy office building in north suburban Atlanta.
Forest City Prez & CEO LaRue Elected ICSC Chairman
David LaRue, Forest City Enterprises’ president & CEO, has been tapped as the new chairman of the International Council of Shopping Centers for the 2013-2014 term.
RECon Special Report: Veterans See Promising, Yet Chastened, Retail Sector
Promising yet chastened by recession was the picture of retail real estate’s prospects sketched by five veteran executives at the annual market outlook sponsored in conjunction with RECon by Marcus & Millichap Real Estate Services Inc.
Cole Acquires 234 KSF HQ for Hillshire Brands Co. for $98M
Cole Real Estate Investments has acquired The Hillshire Brands Co.’s headquarters in the West Loop of Chicago’s CBD on behalf of Cole Corporate Income Trust Inc. for $98 million.
Daisho Launches $300M Office Project in Brisbane’s CBD
Japanese developer Daisho Group has recently broken ground on a $300 million office tower in Brisbane, the capital and most populous city in the Australian state of Queensland.